Investment Properties: 36-38 Spencer Road, Harrow HA3 7AP

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36-38 Spencer Road, Harrow HA3 7AP

OIEO £2,450,000 - Freehold

• Strong opportunity to acquire a Freehold building on a 0.22 acre site, currently arranged as a 19 unit HMO with planning permission granted to extend to 22 units

• Outline agreement in place with Home Office backed Clearspring ReadyHomes, for a lease of the existing building in its current condition for a term of 7 years at £168,000 per annum

• The existing property extends to approximately 500 sq m (5,400 sq ft) GIA, and holds a HMO License for up to 20 bedrooms and 42 occupants

• Planning permission in place for a proposed redevelopment of the existing building to create a 22 unit HMO across 555.7 sq m (5,982 sq ft) GIA with a private market ERV of c£275,000 per annum

• Further development scope on the land to the rear for 7 additional HMO units• The Freehold is available for sale as a whole by means of Informal Tender at OIEO £2.45m